Crosley Motors finishes the fiscal year with record sales of $25,391,627, doubling 1947's gross volume, and earnings of $2.63 a share of common stock as compared with 1947's 84 cents a share. The net was after expenses and amortization of $1,556,107 and taxes of $1,156,205. $480,099 was charged to current income for tooling for the new station wagon. Working capital is at $3,401,191, from $1,992,213 a year earlier. Current assets are $5,646,252; liabilities are $2,245,060.

Powel Crosley III, the son of Powel Crosley Jr. and Gwendolyn Bakewell Crosley, dies of a sudden heart attack at his Miami home. He had been the general manager for the Crosley Marine Research Laboratory in suburban Coral Gables, Florida. He is survived by his widow and three sons, all of Miami.